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For immediate release: October 7, 2003

DOLLAR FALLS BACK IN SEPTEMBER

In September the average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta declined 1.4 percent, its first decline in three months. The dollar was down on all subindexes, with a 1.7 percent drop on the Pacific subindex leading the way. The classic subindex, which is the analogue of the original Atlanta index, was down 1.7 percent. The overall index in September was 6.7 percent lower than its year-ago level. On a daily basis, the overall index’s level at the end of September was 2.9 percent below its reading at the end of August and was 8.6 percent below its level at the end of September 2002.

The Atlanta Fed index is based on 1995–97 bilateral trade weights for 15 currencies. The European subindex includes the European Monetary Union, Switzerland and the United Kingdom. The Pacific subindex includes Australia, China, Hong Kong, Japan, Malaysia, Singapore, South Korea and Taiwan. The Americas subindex includes Brazil, Canada and Mexico. The overall dollar index includes the Saudi Arabian riyal along with the foregoing 14 currencies. The classic subindex includes the European Monetary Union, Switzerland, the United Kingdom, Australia, China, Hong Kong, Japan, Singapore, South Korea, Taiwan, Saudi Arabia and Canada. All figures are indexes and not actual exchange rates. A rise in the index or subindex reflects a strengthening of the dollar against currencies included.


ATLANTA FED DOLLAR INDEXES: OCTOBER 2003 UPDATE
(1995 = 100)
Atlanta Fed
Overall Index
Monthly
Subindexes
Americas Europe Pacific Pacific
excluding
Japan
Classic
Monthly Averages
Levels:
09/03 119.377 123.090 110.819 121.896 121.717 110.920
08/03 121.039 124.742 111.986 123.966 122.394 112.858
09/02 127.899 133.136 124.073 126.314 124.592 121.213
05/95 (low) 96.925 97.085 99.231 95.303 98.733 97.435
Percent change:
08/03-09/03 –1.4 –1.3 –1.0 –1.7 –0.6 –1.7
09/02-09/03 –6.7 –7.5 –10.7 –3.5 –2.3 –8.5
05/95-09/03 23.2 26.8 11.7 27.9 23.3 13.8
Daily Data
Levels:
09/30/03 117.586 122.613 107.259 119.939 120.901 108.850
08/29/03 121.149 124.919 113.579 123.027 122.227 112.640
09/30/02 128.634 135.090 123.093 127.004 125.273 121.475
05/08/95 (low) 95.740 96.549 96.705 94.236 98.571 96.238
Percent change:
08/29/03-09/30/03 –2.9 –1.8 –5.6 –2.5 –1.1 –3.4
09/30/02-09/30/03 –8.6 –9.2 –12.9 –5.6 –3.5 –10.4
05/08/95-09/30/03 22.8 27.0 10.9 27.3 22.7 13.1

 

Based on 1995–97 bilateral trade weights for 15 currencies. Technical details of country selection, weighting and index construction are available in the June/July 1986, Summer 1987, September/October 1990 and Third Quarter 1999 issues of the Atlanta Fed’s Economic Review.

Atlanta Fed Dollar Indexes Table: History